Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Alkami Technology (NASDAQ:ALKT) announced its earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13), Zacks reports. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%.

Alkami Technology Price Performance

Shares of ALKT traded down $0.53 during trading hours on Thursday, reaching $28.97. The company had a trading volume of 895,628 shares, compared to its average volume of 589,595. The firm has a 50 day simple moving average of $35.21 and a 200-day simple moving average of $35.04. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -61.63 and a beta of 0.47. Alkami Technology has a 12-month low of $22.65 and a 12-month high of $42.29.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total value of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares of the company’s stock, valued at approximately $7,676,303.40. This trade represents a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,807 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $683,254.59. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at $13,576,879.17. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 283,298 shares of company stock worth $10,600,144. 25.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALKT has been the subject of a number of analyst reports. Craig Hallum increased their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $43.00.

About Alkami Technology

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.